Used LCV values fell by £211 in February to £4,272 according to BCA’s latest figures, a 4.7% drop from the 20-month high recorded in January.

BCA’s Pulse data shows average LCV values fell in all three sectors of fleet/lease, dealer part-exchange and nearly-new thanks to a combination of softer demand and changing model mix as supply pressures continued.

The February average figure of £4,272 was the lowest recorded in the past six months and performance against Guide Prices fell by one and three-quarter points to 98.23%.

However, year-on-year, February 2012 was £126 ahead of the same month in 2011, equivalent to a 3% improvement - despite the average age and mileage rising by four months and over 6,000 miles respectively in the same period.

Duncan Ward BCA’s general manager, commercial vehicles, said: “This is the second year running that we have seen values decline in February following a strong January performance.

“We noted in our last report that demand softened towards the end of January and that largely set the tone for the following four weeks.

“However, values remain at a much higher level than they were a year ago, despite both mileage and age rising by around 8% in that time.”

Values in the fleet & lease LCV sector in February fell back by £160 (3.1%) to £4,948, although year-on-year values are ahead by £349 or 7.5% - a larger margin than the previous month.

Interestingly, the January to February decline is almost exactly the same as in 2011, when the fall was £159 or 3.3%.

Average values have been noticeably higher over the past six months, even though average mileage and age have remained largely static at around 70,000 miles and 44 months during that period. Fleet vans averaged 98.06% of CAP in February, down two points compared to January.


 

More articles on: